Royale Energy (ROYL) has released an update.
Royale Energy, Inc. secured a term loan of up to $3 million from Walou Investments, LP, with provisions for additional lenders to participate. The initial loan of $1.4 million is backed by a mortgage on oil and gas assets in Texas. The interest rate is set at 18% per annum, with the option for prepayment without penalties. The loan must be repaid by August 1, 2025, and was approved by disinterested directors, ensuring fairness and market competitiveness.
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